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BSNL to appoint consultants shortly for overseas foray

BSNL to appoint consultants shortly for overseas foray
PTI
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First Published: Mon, May 18 2009. 03 53 PM IST
Updated: Mon, May 18 2009. 03 53 PM IST
New Delhi: State-run Bharat Sanchar Nigam Ltd will shortly appoint a panel of consultants to guide it on its overseas business plans, including mergers and acquisitions and bidding for licences.
The company is seeking consultants for mergers and acquisitions, strategic partnerships, acquiring telecom licences outside India, a senior BSNL official said.
BSNL, with a view to establishing itself as a global player in the telecom sector and to achieve inorganic growth, is aiming at expanding its area of operations, the official said.
The state-run firm, which so far concentrated only on the Indian market (except Delhi and Mumbai), has decided to expand overseas. Sources said BSNL has a cash surplus of over $10 billion and would use part of these resources for its overseas foray.
So far, MTNL is the only the state-owned telco that has been bidding for licences abroad.
Moving aggressively on its overseas expansion plans, BSNL has already set up a separate international business division to explore telecom opportunities abroad -- be it acquisition of companies or bidding for licences.
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First Published: Mon, May 18 2009. 03 53 PM IST
More Topics: BSNL | Consultants | Overseas | Mergers | Acquisitions |